When my wife buys online, she often uses Amazon, but she buys clothes and other fashion items from a website called SHEIN.
I would not risk buying from an unidentifiable site, and since it is a Chinese site, I am very suspicious. And since the prices are so ridiculously low, I was not sure if the products were genuine or not. I was also worried that I would not receive the product in the first place.
Unlike Amazon, the product is shipped from China, so it takes a few days for delivery and I have no idea when it will arrive. Still, the product was delivered and my wife seems to be satisfied with it.
However, I was surprised to read in the Nihon Keizai Shimbun the other day.
SHEIN was founded in 2008 by Chris Hsu, a Chinese national, and is currently operated by Lord Get Business in Singapore. The headquarters is located in Guangzhou, China, and through a network of sewing factories not only in Guangzhou but also in Zhejiang and Jiangxi provinces, the company mass-produces fashions designed by itself in as short a time as three weeks.
According to CB Insight, which analyzes information on U.S. startups, SHEIN has a market capitalization of 14.4 trillion yen, which is much higher than Zara's 9.5 trillion yen and Uniqlo's 8.6 trillion yen.
Many users think this company is an American company, and they are already selling their products in 150 countries and regions.
The amount of sales is not disclosed, but Reuters believes it will exceed 2 trillion yen in 2021.
What is interesting is that this company does not sell within China. They targeted the overseas market because there were already competing companies selling inexpensive clothing in China.
Even with inflation, women's passion for fashion will not diminish, and SHEIN's success in offering a wide variety of inexpensive items is sure to continue.
SHEIN is a strange brand to me as I am not interested in fashion, but I am convinced that my wife buys from this site.
I wonder how she got to know SHEIN.
The founder's name was really uplifting.
＊In Japanese, the name of the company's founder, Mr. Xu Gyotian（Chris Hsu）, means "to be surprised to the point of looking up to the heavens.
